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- U.S. home price growth accelerates slightly in September - S&P Dow Jones Indices
U.S. home price growth accelerates slightly in September - S&P Dow Jones Indices
S&P
reported on Tuesday its Case-Shiller Home Price Index, which tracks home prices
in 20 U.S. metropolitan areas, rose 2.1 percent y-o-y in September, following
an unrevised 2.0 percent y-o-y increase in August.
Economists had
expected an advance of 2.1 percent y-o-y.
Phoenix (+6.0
percent y-o-y), Charlotte (+4.6 percent y-o-y) and Tampa (+4.5 percent y-o-y)
recorded the highest y-o-y gains in September.
Meanwhile, the
S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S.
census divisions, was up 3.2 percent y-o-y in September, up from 3.1 percent
y-o-y in the previous month.
"September’s
report for the U.S. housing market is reassuring,” noted Craig J. Lazzara,
Managing Director and Global Head of Index Investment Strategy at S&P Dow
Jones Indices. “After a long period of decelerating price increases, it’s
notable that in September both the national and 20-city composite indices rose
at a higher rate than in August, while the 10-city index’s September rise matched
its August performance. It is, of course, too soon to say whether this month
marks an end to the deceleration or is merely a pause in the longer-term trend,’
he added.
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